Forum Replies Created
- kattan wrote:btw whose responsibility is it to register easements? if unregistered how is the prospective buyer going to be aware of the condition? Kattan
For an easement to exist, it needs the consent of the land's owner (ie the property which is burdened) as well as the documentation submitted by the property benefitting from the easement. To find out if there is some form of easement, you should approach your solicitor (or do the search yourself) of the adjoining properties to discover whether in fact that there is an easement – you'll discover that the other properties might have a right to drain water etc over your land.
The responsibility for registering the easement lies with the person benefitting from the easement. If they haven't registered it and it does not show when you make your enquiries eg http://www.DBYD.com.au, then you can build in blissful ignorance.
The only people who win at the casino/TAB are the shareholders not the punters (there are very few exceptional punters which is why the Casinos tend to look after them nicely).
The tote works by taking out a fixed percentage of the bet to cover its running costs and profits, the rest is shared between the winners/place getters and is funded by the losers. TAB wins every time (at least on the tote, different story for fixed odds betting though).
Casper, all products must meet the standard for your area eg R3.5 so that they are all as effective as each other.
If you need to get an installer contact the Master Builders Association in your state – I think that in order to qualify for the rebate you need to use a registered installer ie not DIY.
Generally councils will accept drawings prepared by anyone provided that they meet the guidelines required by council for assessment ie must be a scaled drawing, show the entire lot/block, be fully dimensioned, show relative setbacks from boundaries, have a north point, show the height, reduced levels etc. You will also need to provide information about location of adjoining premises (if suburban) including position of neighbours windows, distance from boundary, length of building, shadow diagrams. You will also need to provide neighbour notification plans – shows the buidling envelope, setbacks etc (about 6 copies, sometimes more).
Best to speak with the duty planner (in person) to get the full list of requirements.
Minimum fee structure (or a % of final price) then a % of the saving off the asking price or a fixed price are better however it is always an unknown as to how many properties that a buyer wants to look at before committing (if at all).
I noticed today's email from RP Data shows the price drop in median house prices over $1m with several suburbs dropping out of the category but some new one coming in.
I don't believe the stats when they can give a median price increase of 30-50% based on a small number of sales (I like large samples with more information for analysis ie a homogenous sample being 3 bedroom houses or other benchmark).
Generally speaking it is a house/unit that has never previously been occupied eg new construction or refurbishment if major works have been carried out on an older block of units (completely refurbished block and all units sold off with new strata plan). You can even get away with it (sometimes) with the redevelopment/refurbishment of old motels with the conversion to strata resi.
Unfortunately I am not familiar with any of the peculiarities for the Victorian grants.
It still equates to over $800/m2 (the house is only 24 m2). If you were investing in it, a bank might choke as it is smaller than most studio apartments.
(I'm a little cynical tonight).
What exactly does the LEP say? Does it prescribe an FSR of 0.75:1 or must you have 25% of the area as open space with no cap on building area? Does that include circulation space for cars/pedestrians? Provision for visitor parking? Provision for private open space? You may find that the building area will get hammered when you allow for all of the above (if they are required).
Using very simple numbers ie yours:
675 m2 @ $1250/m2 = $843,750 (construction cost) + $265,000 (xtg house/land) + (SD/Legals) $13,250 + (landscaping) $15,000 = $1,137,000 + $454,800 gross profit (20%) = $1,591,800+ $159,180 gst = total sale price of $1,750,980Your net profit will be much less by the time you take into account interest on the loan, legals for strata plan/sales, sales costs, design/DA/CC/council contributions etc.
How much do you expect to sell these town houses for? ie if you have six the price will equate to close to $300k each – that is more than you are paying for the house & land – is that realistic?
Solicitors never throw anything in (for free). They may organise pest/building inspections or recommend that you organise them.
Have a look at the local tafe bookshop – get a couple of the texts.
Kailyn, that's almost as scientific as putting numbers on each step and throwing a coin. I'd hesitate to say it is worth:
$net rental/8% or $net rental/9%.What relevance does a valuation close to 30 years ago have other than for establishing a costbase if you owned it back then.
I classify anything not in the major capitals regional (if it is in a city), rural if it is in a town or less (village/hamlet).
As for spending $400 on flights, how does that compare to the rest of the cost of purchasing & the risk of not spending $400 to find out?
Firstly you'll need to decide your budget, the type of property that you are after (commercial/retail/industrial), whether you want it vacant possession or with a tenant in place.
Other considerations will include location, zoning, usage, age of premises, functional obsolescence, condition of plant and equipment, bylaws affecting usage (if strata), parking, services (ie how much power, water, grease trap capacity, phone/data capabilities etc).
Registration for GST (more important if you are buying with a tenant in place – even for 1 day).
Then you enter into a totally new realm of commercial leases or retail tenancy legislation.
You might be best looking for an agent who will charge a fixed fee. If you consider that the selling agent is probably only charging 2-3% why would you be paying the buyers agent more than the sellers agent? After all, the selling agent has to do all of the marketing etc.
Here's the link that I was searching for NSW Dept Planning
No matter how remote the location, I find that it is always best to do the inspection personally for all the reasons outlined by Terry. There are things which are discoverable by your own due diligence (demographics, distance to schools, shops, parks, hospitals, universities, transport etc) however other things ie intangibles are often only uncovered by personal inspection and some meetings with locals eg a couple of tradies, property managers, council, community elder etc – yes it may mean some personal attachment ie the place has a good feel to it however it is then up to you to confirm that the numbers that you have worked on really fly.
I'd tend to agree if the property is zoned residential however many town plans have a '4' zoning for industrial uses. That said, the property could be considered a development site with the house having little or no value (it may even be considered a liability as you will have to demolish it).
In this case you'd be best to seek professional advice.
Which state are you in?
Shane, which state are you in? NSW govt recently approved a new planning system allowing greater scope for development. I don't recall all of the details but it was on the dept of planning's website.
